SUN LAKES, Ariz. -- A Sun Lakes couple has lost its entire life savings and will soon lose the house they've lived in for 23 years.

Lowell Marvin, 88, and his wife, Mary, have had their car repossessed, phone disconnected, and their home is now in foreclosure, all because of a major investment scam.

"They were just pretty good actors," said Mary Marvin. "I kept thinking how convincing they were, because they made believers out of you."

The elderly couple estimated that they have sent close to $300,000 to scam artists in Jamaica since 2006, after they were promised over the phone up to a $5 million return on their investment.

Mary Marvin, 86, has a stack of money orders and wire transfers papers for amounts ranging from $450 - $1,300.

The elderly couple had been sending out various increments of money for the past three years hoping for a big return to help pay for their grandson's college education.

As of today, they haven't received any money back.

"We wondered lots of times, but the return was supposed to be so good that we thought it was worth the gamble," said Lowell Marvin.

Maricopa County deputies said this is one of the worst scams they've ever seen, but there are a lot of other elderly victims just like the Marvins.

"Every day we see some type of scam," said Sgt. Alan Goodman. "From this type of investment scam to a lottery in another country, to relatives who are in jail, saying, please send money."

"You should not believe everything that people tell you," said Mary Marvin.

"If they offer you a big return on a small investment, it's a scam," said Lowell Marvin.

Authorities said since the money was wired to another country, there's not much law enforcement in Arizona can do.